Shippers surge as Middle East turmoil forces re-routing, rate hikes in sight

Hoegh Autoliners ASA

02/03/2026 08:52

Refiles to add brokerage name in 4th bullet point

** Shares in European shipping companies Maersk MAERSKb.CO and Hapag-Lloyd  rise 7% and 4%, respectively, as the Middle East turmoil disrupts Hormuz and Suez routes, tightening capacity and driving expectations of higher freight rates

** On Sunday, Maersk, Hapag-Lloyd and CMA CGM began rerouting ships around Africa, avoiding the Suez Canal and Bab el-Mandeb after U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz

** Maersk and Hapag-Lloyd said they were suspending all vessel crossings in the Strait of Hormuz until further notice

** J.P.Morgan says that further disruption is likely to push freight rates higher—alongside rising oil prices

** Shares of Nordic tanker companies also rise with Copenhagen listed Torm TRMDa.CO and Oslo-listed Frontline's FRO.OL up 5%

     ** Norwegian RoRo shipper Hoegh Autoliners HAUTO.OL is up 3.6%

** Shares of Maersk hit their highest since March 2, 2023

(Reporting by Agnieszka Gosciak-Rabalska)

((Agnieszka.Gosciakgdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))